Architecture Billings Index Edges Up in February

Washington, DC, March 21, 2012 -- The Architecture Billings Index rose to 51.0 in February, from 50.9 the previous month, according to the American Institute of Architects.

Led by the commercial sector, the index has remained in positive territory four months in a row.

The higher February reading indicates a slight increase in demand for design services, which foreshadows an future increase in construction activity.

Any measure above 50 indicates expansion and stronger construction activity nine to 12 months ahead.

A separate index of project inquiries rose to 63.4, from 61.2 the prior month, its highest level since July 2007. Since a developer can contact multiple architects for a single project, this measure is often higher than the billings index.

AIA said construction financing remains scarce for developers who are willing to pursue projects, but many developers remain cautious about proceeding.

Listen to today's interview for more.

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